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Montenegro’s Economic Outlook Is Strong for 2021 & 2022



02.11.2021

Official stats show that the Economic Outlook for both 2021 and 2022 is strong for Montenegro as not only has it's national debt fallen for the first time since they gained Independence, but along with their Balkan counterpart of Moldova, they will also see the highest levels of economic growth in 2021, amongst the ‘Emerging European’ nations.

Due to the increased costs relating to the Covid Global Pandemic Montenegro’s debt in 2020 reached un-sustainable levels of 103% of it’s National GDP, however thanks to a recent repayment of the Eurobond which was issued in 2016, the debt will fall to a projected 87.37% by the end of 2021, and further payments will see it’s percentage fall even further to 71.7% by the end of 2023.

Foreign debt which accounts for around €3.65bn, is mostly down to the International Highway, with the largest creditor being China’s Exim Bank – and Montenegro has already asked the EU to help them pay for this. Other large debts include the IBRD which stands at €185m and the European Investment Bank at €105m. There are already plans in place by the new government to further repay more of this debt throughout the next few years.
The Vienna Institute for International Economic studies also recently released its Autumn forecast and it expects Montenegro to growing by around 8.4% (the largest growth for the Balkan Region and ‘Emerging Europe’), and the outlook for 2022 is also positive with predictions for Montenegro growing again by around 4.8%. Part of the reason for the growth is down to Tourism, which has jumped significantly since restrictions were lifted, and will continue to do so as Montenegro increases its presence Internationally, pushes on with its ambitions of joining Europe, and continues to attract Investors to its shores.

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  • In period May-August 2022 we sold our flats in St-Petersburg Russia and  have bought two  ones here in Montenegro, Becici. We decided to move here and make new home and business with my husband. Our agent Milica Zugic  is really became our angel - provider here in Montenegro. She is very reliable, responsible , professional  employee of CMM Budva department. She has developed intuition and found very fast necessary properties which we needed. Also she helped us to speed up the process of registration documents in MUP.( list nepokretnosti, etc). She was our real provider here. Very appreciated her and all staff of Budva department for there assistance. Separately to lawyer Ivan and his legal team. Very recommended choose Milica Zugic as real estate manager when you search for assistant in this complicated and important field as buying property in Montenegro.

    Liudmila Nosova St-Petersburg Russia , 13.09.2022 11:20:09

  • At the beginning of April 2022, our family living in Prague bought a house in Sutomore with the assistance of your company.
    Let me express my gratitude to the management of your company for the service provided, and especially to your employees - Anastasia Zeyak, Alexei Grachev and Elena Bozhovich for their attention, patience and even care for the whole time of buying real estate and the services provided after the purchase.
    I would really like all companies to work with the same quality of service. After coming into contact with this kind of attitude towards the client, all our environment, if necessary, will refer to your company only.
    With gratitude on behalf of our family.

    A.V. Ter-Gazaryan, 12.07.2022 12:32:19

  • Based on my experience with CMM in Budva, Montenegro, I can say that they are reliable, fast, and they deliver what they promise. They take really good care of their clients. For instance, I was offered a lift from the airport, and they would take me back and forth from Tivat to Budva and Becici to see various properties. They would answer all of my questions and respond promptly. They have an excellent team: Katarina, Alexander, Natasha, Martin and some other guys whose names I don’t remember. Katarina, my wonderful agent, went to every length to help me find a perfect home. Unfortunately, my situation changed and I had to postpone my relocation to Montenegro.
    I would strongly recommend this company to anyone who is looking for a property in Montenegro.

    Val , 13.05.2022 04:18:13

  • We were introduced to CMM by friends who had already done research on Montenegro and CMM. We purchased our apartment in Dobrota, just outside Kotor, all remotely from South Africa, during the lockdown. Everything was seamless without any problems at all. All the CMM departments work together well from the sales team, head office, legal, interior design and rental department. Every detail was well communicated with an abundance of zoom meetings, videos, emails etc
    We are thrilled with the outcome and enjoyed working with the CMM team. They were incredibly professional.
    After sales service is also excellent as we move into the rental phase of the apartment and over all management of the apartment including maintenance.
    We have been directly and indirectly involved with many houses/apartments all over the world and this was the up there with the best service we have received.
    Thanks to everyone we dealt with at CMM it has been an absolute pleasure dealing with you all. We look forward too many happy years working with you on our rental.

    Mandy and Antoine, 06.10.2021 10:56:22

  • Biz Montenegroda CMM komandayla  tanish olmushug. Snejana ve Milan bize cox  yaxshi destek olublar. Artig bizim burada evimiz de var. Bize gosterdiler cox yuksek service, ve artig butun bizim senedler de gaydasindadir. Boyuk hormetle onlara Cox sagol bildiririk!

    Dilara, 01.10.2019 08:17:27

  • Last year we decided to find a new home close to the sea. It was quite difficult in the beginning to make the right choice. Once we found CMM Company was a great luck! We immediately received detailed consultation on the country and purchase opportunities. Being attracted by Kotor - one of the most amazing parts of the coast, we decided to take a family trip and maybe make our dream of new home come true. As just discoverers of Montenegro, we were accepted like at home which was a one more pleasant surprise. The most important, we received all detailed information about country regions and procedure of buying property during the first few days. And how beautiful the car journeys were! Difficult choice, but when you find the home you want you can't refuse it. CMM did best to help us with this finding! All the purchase procedure passed well with CMM professional work! Now we are happy owners of a wonderful house with a Kotor bay view, being perfectly served by CMM Management company (of course, we've chosen CMM as professional house manager). Hope our friends and relatives would also move to Montenegro with the CMM help soon !!!

    Kate, 22.03.2019 13:06:21

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